Search results for: residual income valuation model

Authors: Wei Xu, Abdo S. Haidar, Jianxin Gao

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Prosthetic socket is a component that connects the residual limb of an amputee with an artificial prosthesis. It is widely recognized as the most critical component that determines the comfort of a patient when wearing the prosthesis in his/her daily activities. Through the socket, the body weight and its associated dynamic load are distributed and transmitted to the prosthesis during walking, running or climbing. In order to achieve a good-fit socket for an individual amputee, it is essential to obtain the biomechanical properties of the residual limb. In current clinical practices, this is achieved by a touch-and-feel approach which is highly subjective. Although there have been significant advancements in prosthetic technologies such as microprocessor controlled knee and ankle joints in the last decade, the progress in designing a comfortable socket has been rather limited. This means that the current process of socket design is still very time-consuming, and highly dependent on the expertise of the prosthetist. Supported by the state-of-the-art sensor technologies and numerical simulations, a new socket design system is being developed to help prosthetists achieve rapid design of comfortable sockets for above knee amputees. This paper reports the research work related to establishing biomechanical models for socket design. Through numerical simulation using finite element method, comprehensive relationships between pressure on residual limb and socket geometry were established. This allowed local topological adjustment for the socket so as to optimize the pressure distributions across the residual limb. When the full body weight of a patient is exerted on the residual limb, high pressures and shear forces between the residual limb and the socket occur. During numerical simulations, various hyperplastic models, namely Ogden, Yeoh and Mooney-Rivlin, were used, and their effectiveness in representing the biomechanical properties of soft tissues of the residual limb was evaluated. This also involved reverse engineering, which resulted in an optimal representative model under compression test. To validate the simulation results, a range of silicone models were fabricated. They were tested by an indentation device which yielded the force-displacement relationships. Comparisons of results obtained from FEA simulations and experimental tests showed that the Ogden model did not fit well the soft tissue material indentation data, while the Yeoh model gave the best representation of the soft tissue mechanical behavior under indentation. Compared with hyperplastic model, the result showed that elastic model also had significant errors. In addition, normal and shear stress distributions on the surface of the soft tissue model were obtained. The effect of friction in compression testing and the influence of soft tissue stiffness and testing boundary conditions were also analyzed. All these have contributed to the overall goal of designing a good-fit socket for individual above knee amputees.

Keywords: above knee amputee, finite element simulation, hyperplastic model, prosthetic socket

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Authors: Doan Van Chinh, Bui Thi Kien Trinh

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This paper outlines some statistical properties of residual sea level (RSL) at six representative tidal stations located along the coast of Vietnam. It was found that the positive RSL varied on average between 9.82 and 19.96cm and the negative RSL varied on average between -16.62 and -9.02cm. The maximum positive RSL varied on average between 102.8 and 265.5cm with the maximum negative RSL varied on average between -250.4 and -66.4cm. It is seen that the biggest positive RSL ere appeared in the summer months and the biggest negative RSL ere appeared in the winter months. The cumulative frequency of RSL less than 50 cm occurred between 95 and 99% of the times while the frequency of RSL higher than 100 cm accounted for between 0.01 and 0.2%. It also was found that the cumulative frequency of duration of RSL less than 24 hours occurred between 90 and 99% while the frequency of duration longer than 72 hours was in the order of 0.1 and 1%.

Keywords: coast of Vietnam, residual sea level, residual water, surge, cumulative frequency

Procedia PDF Downloads 279

Authors: A. Mostafa

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This paper presents a numerical study on determination of ballistic limit velocity (V₅₀) of stainless steel 304 (SS 304) used in manufacturing security screens. The simulated ballistic impact tests were conducted on clamped sheets with different thicknesses using ABAQUS/Explicit nonlinear finite element (FE) package. The ballistic limit velocity was determined using three approaches, namely: numerical tests based on material properties, FE calculated residual velocities and FE calculated residual energies. Johnson-Cook plasticity and failure criterion were utilized to simulate the dynamic behaviour of the SS 304 under various strain rates, while the well-known Lambert-Jonas equation was used for the data regression for the residual velocity and energy model. Good agreement between the investigated numerical methods was achieved. Additionally, the dependence of the ballistic limit velocity on the sheet thickness was observed. The proposed approaches present viable and cost-effective assessment methods of the ballistic performance of SS 304, which will support the development of robust security screen systems.

Keywords: ballistic velocity, stainless steel, numerical approaches, security screen

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Authors: Hamid Boustanifar, Geraldo Cerqueiro, María Fabiana Penas

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We exploit state-level changes in the amount of personal wealth individuals can protect under Chapter 7 to analyze the causal effect of debtor protection on income inequality. We find that an increase in state exemptions significantly increases inequality by reducing income for low-income individuals and by increasing income for high-income individuals. The increase in inequality is four times larger among the self-employed than among wage earners, and it is due mainly to a growing income gap between skilled (i.e., individuals with a college degree) and unskilled entrepreneurs. We also find that the employment rate of skilled entrepreneurs significantly increases, while the employment rate of unskilled wage earners falls. Our results are consistent with a recent literature that shows that higher exemptions redistribute credit from low-wealth to high-wealth entrepreneurs, affecting the performance of their businesses.

Keywords: debtor protection, credit markets, income inequality, debtor protection laws

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Authors: Joy Cao, Min Zhou

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Purpose: Acute Type A aortic dissection is a well-known cause of extremely high mortality rate. A highly accurate and cost-effective non-invasive predictor is critically needed so that the patient can be treated at earlier stage. Although various CFD approaches have been tried to establish some prediction frameworks, they are sensitive to uncertainty in both image segmentation and boundary conditions. Tedious pre-processing and demanding calibration procedures requirement further compound the issue, thus hampering their clinical applicability. Using the latest physics informed deep learning methods to establish an accurate and cost-effective predictor framework are amongst the main goals for a better Type A aortic dissection treatment. Methods: Via training a novel physics-informed deep residual network, with non-invasive 4D MRI displacement vectors as inputs, the trained model can cost-effectively calculate all these biomarkers: aortic blood pressure, WSS, and OSI, which are used to predict potential type A aortic dissection to avoid the high mortality events down the road. Results: The proposed deep learning method has been successfully trained and tested with both synthetic 3D aneurysm dataset and a clinical dataset in the aortic dissection context using Google colab environment. In both cases, the model has generated aortic blood pressure, WSS, and OSI results matching the expected patient’s health status. Conclusion: The proposed novel physics-informed deep residual network shows great potential to create a cost-effective, non-invasive predictor framework. Additional physics-based de-noising algorithm will be added to make the model more robust to clinical data noises. Further studies will be conducted in collaboration with big institutions such as Cleveland Clinic with more clinical samples to further improve the model’s clinical applicability.

Keywords: type-a aortic dissection, deep residual networks, blood flow modeling, data-driven modeling, non-invasive diagnostics, deep learning, artificial intelligence.

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Authors: Ravi Raj, Louis Chiu, Deepak Marla, Aijun Huang

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Hybridization of the directed laser deposition (DLD) process using an in-situ micro-roller to impart a vertical compressive load on the deposited bead at elevated temperatures can relieve tensile residual stresses incurred in the process. To investigate this stress relief mechanism and its relationship with the in-situ rolling parameters, a fully coupled dynamic thermo-mechanical model is presented in this study. A single bead deposition of Ti-6Al-4V alloy with an in-situ roller made of mild steel moving at a constant speed with a fixed nominal bead reduction is simulated using the explicit solver of the finite element software, Abaqus. The thermal model includes laser heating during the deposition process and the heat transfer between the roller and the deposited bead. The laser heating is modeled using a moving heat source with a Gaussian distribution, applied along the pre-formed bead’s surface using the VDFLUX Fortran subroutine. The bead’s cross-section is assumed to be semi-elliptical. The interfacial heat transfer between the roller and the bead is considered in the model. Besides, the roller is cooled internally using axial water flow, considered in the model using convective heat transfer. The mechanical model for the bead and substrate includes the effects of rolling along with the deposition process, and their elastoplastic material behavior is captured using the J2 plasticity theory. The model accounts for strain, strain rate, and temperature effects on the yield stress based on Johnson-Cook’s theory. Various aspects of this material behavior are captured in the FE software using the subroutines -VUMAT for elastoplastic behavior, VUHARD for yield stress, and VUEXPAN for thermal strain. The roller is assumed to be elastic and does not undergo any plastic deformation. Also, contact friction at the roller-bead interface is considered in the model. Based on the thermal results of the bead, the distance between the roller and the deposition nozzle (roller o set) can be determined to ensure rolling occurs around the beta-transus temperature for the Ti-6Al-4V alloy. It is identified that roller offset and the nominal bead height reduction are crucial parameters that influence the residual stresses in the hybrid process. The results obtained from a simulation at roller offset of 20 mm and nominal bead height reduction of 7% reveal that the tensile residual stresses decrease to about 52% due to in-situ rolling throughout the deposited bead. This model can be used to optimize the rolling parameters to minimize the residual stresses in the hybrid DLD process with in-situ micro-rolling.

Keywords: directed laser deposition, finite element analysis, hybrid in-situ rolling, thermo-mechanical model

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Authors: Arnold I. Malag

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The study wants to establish the data on the characteristics of coastal solid waste in main Island of Masbate as a model for technology interventions. The research utilized the Google Maps to measure the coastal length and Fishbowl Method for area identification. The solid wastes gathered were classified as residual, non-biodegradable, recyclable wastes, and special wastes, based on the waste analysis and characterization manual of Philippine Environmental Governance Project. The wastes were evaluated by weight in kg., dimension in cm., and characteristics as floating or non-floating. Based on the dimension of coastal solid waste, the biodegradable, recyclable, residual and special waste have the average of 40.95 cm., 16.25 cm., 31.37 cm., and 0.725cm. respectively. The waste in the coastal areas is dominated by biodegradable, followed by residual, then recyclable and special wastes with the data of 0.566 kg/m, 0.533 kg/m, 0.114 kg/m and .0007 kg/m respectively. The 97.15% of solid wastes collected is characterized as “floating”, where in the sources are the nearest rivers and waterways and/or the nearest populated areas adjacent to the island. This accumulation of solid wastes can be minimized and controlled by utilizing a floating equipment.

Keywords: solid waste, coastal waste, waste characterization, waste collector

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Authors: Cristian Crespo

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Conditional cash transfers (CCTs) have been targeted towards the poor. Thus, their targeting assessments check whether these schemes have been allocated to low-income households or individuals. However, CCTs have more than one goal and target group. An additional goal of CCTs is to increase school enrolment. Hence, students at risk of dropping out of school also are a target group. This paper analyses whether one of the most common targeting mechanisms of CCTs, a proxy means test (PMT), is suitable to identify the poor and future school dropouts. The PMT is compared with alternative approaches that use the outputs of a predictive model of school dropout. This model was built using machine learning algorithms and rich administrative datasets from Chile. The paper shows that using machine learning outputs in conjunction with the PMT increases targeting effectiveness by identifying more students who are either poor or future dropouts. This joint targeting approach increases effectiveness in different scenarios except when the social valuation of the two target groups largely differs. In these cases, the most likely optimal approach is to solely adopt the targeting mechanism designed to find the highly valued group.

Keywords: conditional cash transfers, machine learning, poverty, proxy means tests, school dropout prediction, targeting

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Authors: Basil Manos, Parthena Chatzinikolaou, Fedra Kiomourtzi

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This paper presents a mathematical model for the sustainable management of agricultural resources in irrigated agriculture. This is a multicriteria mathematical programming model and used as a tool for the planning, analysis and simulation of farm plans in rural irrigated areas, as well as for the study of impacts of the various policies in irrigated agriculture. The model can achieve the optimum farm plan of an agricultural region taking in account different conflicting criteria as the maximization of gross margin and the minimization of fertilizers used, under a set of constraints for land, labor, available capital, common agricultural policy etc. The proposed model was applied to four prefectures in central Greece. The results show that in all prefectures, the optimum farm plans achieve greater income and less environmental impacts (less irrigated water use and less fertilizers use) than the existent plans.

Keywords: sustainable use of agricultural resources, irrigated agriculture, multicriteria analysis, optimum income

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Authors: Hamid Saremi, Shida Hanafi

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In an age of technology and economics, human capital has important and axial role in the organization and human resource accounting has a wide perception to key resources of organization i.e. human resources. Human resources accounting is new branch of accounting that has Short-lived and generally deals to a range of policies and measures that are related to various aspects of human resources and It gives importance to an organization's most important asset is its human resources and human resource management is the key to success in an organization and to achieve this important matter must review and evaluation of human resources data be with knowledge of accounting based on empirical studies and methods of measurement and reporting of human resources accounting information. Undoubtedly human resource management without information cannot be done and take decision and human resources accounting is practical way to inform the decision makers who are committed to harnessing human resources,, human resources accounting with applying accounting principles in the organization and is with conducting basic research on the extent of the of human resources accounting information" effect of employees' personal performance. In human resource accounting analysis and criteria and valuation of cost and manpower valuating is as the main resource in each Institute. Protection of human resources is a process that according to human resources accounting is for organization profitability. In fact, this type of accounting can be called as a major source in measurement and trends of costs and human resources valuation in each institution. What is the economic value of such assets? What is the amount of expenditures for education and training of professional individuals to value in asset account? What amount of funds spent should be considered as lost opportunity cost? In this paper, according to the literature of human resource accounting we have studied the human resources matter and its objectives and topic of the importance of human resource valuation on employee performance review and method of reporting of human resources according to different models.

Keywords: human resources, human resources, accounting, human capital, human resource management, valuation and cost of human resources, employees, performance, organization

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Authors: Tesfaye Alamirew Dessie

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Our study focuses on developing a Model Predictive Controller (MPC) and evaluating it against a traditional PID for a pasteurization process. Utilizing system identification from the experimental data, the dynamics of the pasteurization process were calculated. Using best fit with data validation, residual, and stability analysis, the quality of several model architectures was evaluated. The validation data fit the auto-regressive with exogenous input (ARX322) model of the pasteurization process by roughly 80.37 percent. The ARX322 model structure was used to create MPC and PID control techniques. After comparing controller performance based on settling time, overshoot percentage, and stability analysis, it was found that MPC controllers outperform PID for those parameters.

Keywords: MPC, PID, ARX, pasteurization

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Authors: Sharifullah Ahmed

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Residual settlement of cohesionless or non-plastic soil of different strength underlying highway embankment overlain by stronger soil layer highway embankment is studied. A parametric study is carried out for different height of embankment and for different ESAL factor. The sum of elastic settlements of cohesionless subsoil due to axle induced stress and due to self-weight of pavement layers is termed as the residual settlement. The values of residual settlement (Sr) for different heights of road embankment (He) are obtained and presented as design charts for different SPT Value (N60) and ESAL factor. For rigid pavement and flexible pavement in approach to bridge or culvert, the tolerable residual settlement is 0.100m. This limit is taken as 0.200m for flexible pavement in general sections of highway without approach to bridge or culvert. A simplified guideline is developed for design of highway embankment underlain by very loose to loose cohesionless subsoil overlain by a stronger soil layer for limiting value of the residual settlement. In the current research study range of ESAL factor is 1-10 and range of SPT value (N60) is 1-10. That is found that, ground improvement is not required if the overlying stronger layer is minimum 1.5m and 4.0m for general road section of flexible pavement except bridge or culvert approach and for rigid pavement or flexible pavement in bridge or culvert approach. Tables and charts are included in the prepared guideline to obtain minimum allowable height of highway embankment to limit the residual settlement with in mentioned tolerable limit. Allowable values of the embankment height (He) are obtained corresponding to tolerable or limiting level of the residual settlement of loose subsoil for different SPT value, thickness of stronger layer (d) and ESAL factor. The developed guideline is may be issued to be used in assessment of the necessity of ground improvement in case of cohesionless subsoil underlying highway embankment overlain by stronger subsoil layer for limiting residual settlement. The ground improvement is only to be required if the residual settlement of subsoil is more than tolerable limit.

Keywords: axle pressure, equivalent single axle load, ground improvement, highway embankment, tolerable residual settlement

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Authors: Ghunchq Khan

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The increase in greenhouse gas (GHGs) emissions is a main environmental problem. Diverse human activities and inappropriate economic growth have stimulated a trade-off between economic growth and environmental deterioration all over the world. The impact of economic growth on the environment has received attention as global warming and environmental problems have become more serious. The focus of this study is on carbon footprints (production and consumption) and analyses the impact of GDP per capita on carbon footprints. A balanced panel of 99 countries from 2000 to 2016 is estimated by employing autoregressive distributed lags (ARDL) model – mean group (MG) and pooled mean group (PMG) estimators. The empirical results indicate that GDP per capita has a significant and positive impact in the short run but a negative effect in the long run on the carbon footprint of production in high-income countries by controlling trade openness, industry share, biological capacity, and population density. At the same time, GDP per capita has a significant and positive impact in both the short and long run on the carbon footprint of the production of non-high-income countries. The results also indicate that GDP per capita negatively impacts the carbon footprint of consumption for high-income countries; on the other hand, the carbon footprint of consumption increases as GDP per capita grows in non-high-income countries.

Keywords: ARDL, carbon footprint, economic growth, industry share, trade openness

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Authors: Najla Kamergi

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In a world context of increasing interest in environmental issues, this paper investigates the effect of agri-environmental regulations heterogeneity on the volume of crop commodities’ exports using a theoretically justified gravity model of Anderson and van Wincoop (2003) for the 2003–2013 period. Our findings show that the difference in exporter and importer environmental regulations is more relevant to agricultural trade than trade agreements. In fact, the environmental gap between the two partners is decreasing slightly but significantly crop commodities’ exports according to our results. We also note that the sector of fruit and vegetables is more sensitive to this determinant, unlike cereals that remain relatively less affected. Furthermore, high-income countries have more tendency to trade with countries characterized by similar environmental stringency. Further results show that the BRICS are clearly importing from developed countries where the environmental difference is relatively important. It is likely that emerging countries are witnessing a growing demand for high-quality and “green” crop commodities captured by high-income exporters. Surprisingly, our results suggest that low and middle-income countries with the same level of environmental stringency are more likely to trade crop commodities.

Keywords: agricultural trade, environment, gravity model, food crops, agri-environmental efficiency, DEA

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Authors: Kibret Berhanu Getinet

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Off-farm income diversification by farm rural households has gained the attention of researchers and policymakers due to the fact that agriculture failed to meet the needs of people in developing countries like Ethiopia. The objective of this study was to investigate income diversification strategies into off-farm activities among rural households in Hawassa Zuria Woreda, Sidama National Regional State, Ethiopia. The study used primary and secondary data sources for the primary data collection questionnaire employed as a data collection instrument. A multistage sampling technique was used to collect data from a total of 197 sample households from four kebeles of the study area. Descriptive statistics, as well as econometrics methods of data analysis, were employed. The descriptive statistics result indicates that the majority of sample rural households (68.53 %) have engaged in off-farm income diversification activities while the remaining 31.47% of households did not participate in the diversification in the study area. The choice of participants among the strategies indicates that 6.60% of respondents participated in off-farm wage employment, 30.46% participated in off-farm self-employment, and about 31.47% of them participated in both off-farm wage employment. The study revealed that the share of off-farm income in total annual earnings of households was about 48.457%, and thus, the off-farm diversification significantly contributes to the rural household income. Moreover, binary and multinomial logistic regression models were employed to identify factors that affect the participation and the choices of the off-farm income diversification strategies, respectively. The binary logit model result indicated that agro-ecological zone, education status of the households, available technical skills of the household, household saving, total livestock owned by the households, access to electricity, road access and being married of household head were significant and positively affected the chance of diversification in off-farm activities while the on-farm income of households is negatively affected the chance of diversification. Similarly, the multinomial logistic regression model estimate revealed that agroecological zone, on-farm income, available technical skills, household savings, and access to electricity are positively related and significantly influenced the household’s choice of employment into off-farm wage employment. The off-farm self-employment diversification choice is significantly influenced by on-farm income, available technical skills, household savings, total livestock owned, and access to electricity. Moreover, the result showed that the factors that affect the choice of farm households to engage in both off-farm wage and self-employment are ecological zone, education status, on-farm income, available technical skills, household own saving, market access, total livestock owned, access to electricity and road access. Thus, due attention should be given to addressing the demographic, socio-economic, and institutional constraints to strengthen off-farm income diversification strategies to improve the income of rural households.

Keywords: off-farm, incoem, diversification, logit model

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Authors: Kawsar Ahmed, Hong Wang

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The study's goal was to estimate the causal mediation impact of tobacco tax before and after price hikes among low-income male smokers, with a particular emphasis on the effect estimating pathways framework for continuous and dichotomous variables. From July to December 2021, a cross-sectional investigation of observational data (n=739) was collected from Bangladeshi low-wage smokers. The Quasi-Bayesian technique, binomial probit model, and sensitivity analysis using a simulation of the computational tools R mediation package had been used to estimate the effect. After a price rise for tobacco products, the average number of cigarettes or bidis sticks taken decreased from 6.7 to 4.56. Tobacco product rising prices have a direct effect on low-income people's decisions to quit or lessen their daily smoking habits of Average Causal Mediation Effect (ACME) [effect=2.31, 95 % confidence interval (C.I.) = (4.71-0.00), p<0.01], Average Direct Effect (ADE) [effect=8.6, 95 percent (C.I.) = (6.8-0.11), p<0.001], and overall significant effects (p<0.001). Tobacco smoking choice is described by the mediated proportion of income effect, which is 26.1% less of following price rise. The curve of ACME and ADE is based on observational figures of the coefficients of determination that asses the model of hypothesis as the substantial consequence after price rises in the sensitivity analysis. To reduce smoking product behaviors, price increases through taxation have a positive causal mediation with income that affects the decision to limit tobacco use and promote low-income men's healthcare policy.

Keywords: causal mediation analysis, directed acyclic graphs, tobacco price policy, sensitivity analysis, pathway estimation

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Authors: Kwangin Kim, Taewon Yoo, Haksoo Han

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Polyimide is a superior polymer in the electronics industry, and we conducted a study to synthesize poly(amide-imide) at low temperatures. Poly(amide-imide) was synthesized at low-temperature curing to offer a thermal stable membrane with low residual stress and good processability. As a result, the low crack polymer with good processability could be used to various applications such as semiconductors, integrated circuits, coating materials, membranes, and display. The synthesis of poly(amide-imide) at low temperatures was confirmed by Fourier transform infrared spectroscopy (FT-IR). Thermal stabilities of the polymer was confirmed by thermogravimetric analysis (TGA) and differential scanning calorimetry (DSC).

Keywords: poly(amide-imide), residual stress, thermal stability

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Authors: Danladi Ali, Onah Festus Iloabuchi

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In this paper, GSM signal strength was measured in order to detect the type of the signal fading phenomenon using one-dimensional multilevel wavelet residual method and neural network clustering to determine the average GSM signal strength received in the study area. The wavelet residual method predicted that the GSM signal experienced slow fading and attenuated with MSE of 3.875dB. The neural network clustering revealed that mostly -75dB, -85dB and -95dB were received. This means that the signal strength received in the study is a weak signal.

Keywords: one-dimensional multilevel wavelets, path loss, GSM signal strength, propagation, urban environment

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Authors: Alain Villemeur

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The relationships between the profit share in income on the one hand and the growth rates of output and employment on the other hand have been studied for 17 advanced economies since 1961. The vast majority (98%) of annual values for the profit share fall between 20% and 40%, with an average value of 33.9%. For the 17 advanced economies, Gross Domestic Product and productivity growth rates tend to fall as the profit share in income rises. For the employment growth rates, the relationships are complex; nevertheless, over long periods (1961-2000), it appears that the more job-creating economies are Australia, Canada, and the United States; they have experienced a profit share close to 1/3. This raises a number of questions, not least the value of 1/3 for the profit share and its role in macroeconomic fundamentals. To explain these facts, an endogenous growth model is developed. This growth and distribution model reconciles the great ideas of Kaldor (economic growth as a chain reaction), of Keynes (effective demand and marginal efficiency of capital) and of Ricardo (importance of the wage-profit distribution) in an economy facing creative destruction. A production function is obtained, depending mainly on the growth of employment, the rate of net investment and the profit share in income. In theory, we show the existence of incentives: an incentive for job creation when the profit share is less than 1/3 and another incentive for job destruction in the opposite case. Thus, increasing the profit share can boost the employment growth rate until it reaches the value of 1/3; otherwise lowers the employment growth rate. Three key findings can be drawn from these considerations. The first reveals that the best GDP and productivity growth rates are obtained with a profit share of less than 1/3. The second is that maximum job growth is associated with a 1/3 profit share, given the existence of incentives to create more jobs when the profit share is less than 1/3 or to destroy more jobs otherwise. The third is the decline in performance (GDP growth rate and productivity growth rate) when the profit share increases. In conclusion, increasing the profit share in income weakens GDP growth or productivity growth as a long-term trend, contrary to the trickle-down hypothesis. The employment growth rate is maximum for a profit share in income of 1/3. All these lessons suggest macroeconomic policies considering the profit share in income.

Keywords: advanced countries, GDP growth, employment growth, profit share, economic policies

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Authors: Young Yoon, Jinsoo Kim

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The adoption of information and communication technologies (ICT) in all industry is growing under industry 4.0. Many oil companies also are increasingly adopting ICT to improve the efficiency of existing operations, take more accurate and quicker decision making and reduce entire cost by optimization. It is true that ICT is playing an important role in the process of unconventional oil and gas development and companies must take advantage of ICT to gain competitive advantage. In this study, real option approach has been applied to Unconventional gas R&D project to evaluate ICT of them. Many unconventional gas reserves such as shale gas and coal-bed methane(CBM) has developed due to technological improvement and high energy price. There are many uncertainties in unconventional development on the three stage(Exploration, Development, Production). The traditional quantitative benefits-cost method, such as net present value(NPV) is not sufficient for capturing ICT value. We attempted to evaluate the ICT valuation by applying the compound option model; the model is applied to real CBM project case, showing how it consider uncertainties. Variables are treated as uncertain and a Monte Carlo simulation is performed to consider variables effect. Acknowledgement—This work was supported by the Energy Efficiency & Resources Core Technology Program of the Korea Institute of Energy Technology Evaluation and Planning (KETEP) granted financial resource from the Ministry of Trade, Industry & Energy, Republic of Korea (No. 20152510101880) and by the National Research Foundation of Korea Grant funded by the Korean Government (NRF-205S1A3A2046684).

Keywords: information and communication technologies, R&D, real option, unconventional gas

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Authors: Shih-Kuei Lin

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The characterization of the arbitrage-free dynamics of interest rates is developed in this study under the presence of Markov jump risks, when the term structure of the interest rates is modeled through simple forward rates. We consider Markov jump risks by allowing randomness in jump sizes, independence between jump sizes and jump times. The Markov jump diffusion model is used to capture empirical phenomena and to accurately describe interest jump risks in a financial market. We derive the arbitrage-free model of simple forward rates under the spot measure. Moreover, the analytical pricing formulas for a cap and a floor are derived under the forward measure when the jump size follows a lognormal distribution. In our empirical analysis, we find that the LIBOR market model with Markov jump risk better accounts for changes from/to different states and different rates.

Keywords: arbitrage-free, cap and floor, Markov jump diffusion model, simple forward rate model, volatility smile, EM algorithm

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Authors: Ephrem Getahun, Shengwen Qi, Songfeng Guo, Yu Zou, Melesse Alemayehu

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Residual shear characteristics of slide soil profile sections (SSPS) were examined using ring shear tests to know the relative residual shear behaviors among the sections of slide soil. The multistage-multiphase shearing techniques were employed to perform the experiment for each soil specimen continuously towards large displacements. The grain distribution analysis of SSPS samples was characterized by coarsening upward from bottom slip to the top sections; however, the slip surface was considered as a sheared zone that endorses their low shear resistance for failure. There is an average range of 1-2.5 mm axial displacement on each stage of loadings and phases of shearing that depicts the significant effect of dilation and compression of soil specimen. The middle section has the largest consolidation percentage (10-29%), and vertical displacement compared to other sections and showed high shear strengthening behavior having maximum shear stress of 189kPa at 240kPa loading compared to basal and top sections. It is found that the middle section of SSPS has relatively high shear resistance behavior for large displacement shearing. The residual shear assessment indicates that there is a significant influence of large displacement and rate on the friction coefficient behaviors; it resulted in shear weakening effect to attain their residual condition.

Keywords: comparison, displacements, residual shear stress, shear behavior, slide soils

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Authors: Hasan Bulent Kantarci

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This paper examine how Zakat provide a fair income redistribution and struggle with poverty. To provide a fair income redistribution and struggle with poverty take place among the fundamental tasks of all countries. Each country seeks a solution for this problem according to their political, economical and administrative styles through applying various economic and financial policies. The same situation gets handled via zakat association in the Islam. Nowadays, we observe different versions of zakat in developed countries. The applications such as negative income tax denote merely a difference from the zakat being applied almost the same way under changed names. But the minimum values to donate the zakat (e.g. 85 gr. gold and 40 animals) get altered and various amounts are put into practice. It might be named as negative income tax instead of zakat, nonetheless, these applications are based on the Holy Koran and the hadith released 1400 years ago. Besides, considering the savage and slavery in the world at those times, we might easily recognize the true value of the zakat applied the first time then in Islamic system. Through zakat is enabled an income transfer by the government so that the poor could reach the minimum level of life standard. To whom the zakat would be donated was not left to people’s heart and encouraged to determine according to objective criteria. Since the zakat is obligatory, the transfer do not get forward by hand but via the government and get distributed, which requires a vast government organization. Through applying the zakat as it must be would achieve to reduce the poverty mostly and ensuring the fair income redistribution.

Keywords: Islamic finance, zakat, income redistribution, circle of poverty, negatif income tax

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Authors: Vikram Singh

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This paper aims to take into account carbon tax or cap-and-trade legislation to manage Delhi carbon emissions after a post-Kyoto treaty. This report estimated the influence of the carbon taxes or rebate/compensation cost at the household level. Here, the three possible scenarios will help to comprehend the difference between a straightforward compensation/rebate, and two clearly denoting progressive formula. The straightforward compensation is basically minimizing the regressive applications that will bears on cost. On the other hand, both the progressive formula will generate extra revenue, which will help for feasibility of more efficient, vehicles, appliances and buildings in the low-income household. For the hypothetical case of carbon price $40/tonne, low-income household for both urban and rural region could experience price burden up to 5% and 9% on their income as compared to 3% and 7% for high-income household respectively. The survey report also shown that carbon emission due low-income household are primarily by the substantive requirement like housing and transportation whereas almost 40% emission due to high-income household are by luxurious and non-essential items. The equal distribution of revenue cum incentives will not completely overcome high-income household’s investment in inessential items. However, it will merely help in investing their income in energy efficient and less carbon intensive items. Therefore, the rebate distribution on per capita basis instead on per households will benefit more especially large families at low-income group.

Keywords: household emission, carbon credit, carbon intensity, green house gas emission, carbon generation based insentives

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Authors: Arega Shumetie Ademe, Belay Kassa, Degye Goshu, Majaliwa Mwanjalolo

Abstract:

Currently the world economy is suffering from one critical problem, climate change. Some studies done before identified that impact of the problem is region specific means in some part of the world (temperate zone) there is improvement in agricultural performance but in some others like in the tropics there is drastic reduction in crop production and crop income. Climate variability is becoming dominant cause of short-term fluctuation in rain-fed agricultural production and income of developing countries. The purely rain-fed Ethiopian agriculture is the most vulnerable sector to the risks and impacts of climate variability. Thus, this study tried to identify impact of climate variability on crop income of smallholders in Ethiopia. The research used eight rounded unbalanced panel data from 1994- 2014 collected from six villages in the study area. After having all diagnostic tests the research used fixed effect method of regression. Based on the regression result rainfall and temperature deviation from their respective long term averages have negative and significant effect on crop income. Other extreme devastating shocks like flood, storm and frost, which are sourced from climate variability, have significant and negative effect on crop income of households’. Parameters that notify rainfall inconsistency like late start, variation in availability at growing season, and early cessation are critical problems for crop income of smallholder households as to the model result. Given this, impact of climate variability is not consistent in different agro-ecologies of the country. Rainfall variability has similar impact on crop income in different agro-ecology, but variation in temperature affects cold agro-ecology villages negatively and significantly, while it has positive effect in warm villages. Parameters that represent rainfall inconsistency have similar impact in both agro-ecologies and the aggregate model regression. This implies climate variability sourced from rainfall inconsistency is the main problem of Ethiopian agriculture especially the crop production sub-sector of smallholder households.

Keywords: climate variability, crop income, household, rainfall, temperature

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Authors: Timilehin Martins Oyinloye, Won Byong Yoon

Abstract:

Simulation technology is being adopted in many industries, with research focusing on the development of new ways in which technology becomes embedded within production, services, and society in general. 3D printing (3DP) technology is fast developing in the food industry. However, the limited processability of high-performance material restricts the robustness of the process in some cases. Significantly, the printability of materials becomes the foundation for extrusion-based 3DP, with residual stress being a major challenge in the printing of complex geometry. In many situations, the trial-a-error method is being used to determine the optimum printing condition, which results in time and resource wastage. In this report, the analysis of 3 moisture levels for surimi paste was investigated for an optimum 3DP material and printing conditions by probing its rheology, flow characteristics in the nozzle, and post-deposition process using the finite element method (FEM) model. Rheological tests revealed that surimi pastes with 82% moisture are suitable for 3DP. According to the FEM model, decreasing the nozzle diameter from 1.2 mm to 0.6 mm, increased the die swell from 9.8% to 14.1%. The die swell ratio increased due to an increase in the pressure gradient (1.15107 Pa to 7.80107 Pa) at the nozzle exit. The nozzle diameter influenced the fluid properties, i.e., the shear rate, velocity, and pressure in the flow field, as well as the residual stress and the deformation of the printed sample, according to FEM simulation. The post-printing stability of the model was investigated using the additive layer manufacturing (ALM) model. The ALM simulation revealed that the residual stress and total deformation of the sample were dependent on the nozzle diameter. A small nozzle diameter (0.6 mm) resulted in a greater total deformation (0.023), particularly at the top part of the model, which eventually resulted in the sample collapsing. As the nozzle diameter increased, the accuracy of the model improved until the optimum nozzle size (1.0 mm). Validation with 3D-printed surimi products confirmed that the nozzle diameter was a key parameter affecting the geometry accuracy of 3DP of surimi paste.

Keywords: 3D printing, deformation analysis, die swell, numerical simulation, surimi paste

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Authors: P. Zamani, S. Mohajerzadeh, R. Masoudinejad, K. Farhangdoost

Abstract:

The riveting process is one of the important ways to keep fastening the lap joints in aircraft structures. Failure of aircraft lap joints directly depends on the stress field in the joint. An important application of riveting process is in the construction of aircraft fuselage structures. In this paper, a 3D finite element method is carried out in order to optimize residual stress field in a riveted lap joint and also to estimate its fatigue life. In continue, a number of experiments are designed and analyzed using design of experiments (DOE). Then, Taguchi method is used to select an optimized case between different levels of each factor. Besides that, the factor which affects the most on residual stress field is investigated. Such optimized case provides the maximum residual stress field. Fatigue life of the optimized joint is estimated by Paris-Erdogan law. Stress intensity factors (SIFs) are calculated using both finite element analysis and experimental formula. In addition, the effect of residual stress field, geometry, and secondary bending are considered in SIF calculation. A good agreement is found between results of such methods. Comparison between optimized fatigue life and fatigue life of other joints has shown an improvement in the joint’s life.

Keywords: fatigue life, residual stress, riveting process, stress intensity factor, Taguchi method

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Authors: Zuhier Altawallbeh

Abstract:

This paper investigates the approximate analytical solutions of general form of Volterra integro-differential equations system by using the residual power series method (for short RPSM). The proposed method produces the solutions in terms of convergent series requires no linearization or small perturbation and reproduces the exact solution when the solution is polynomial. Some examples are given to demonstrate the simplicity and efficiency of the proposed method. Comparisons with the Laplace decomposition algorithm verify that the new method is very effective and convenient for solving system of pantograph equations.

Keywords: integro-differential equation, pantograph equations, system of initial value problems, residual power series method

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Authors: Eyup Dogan

Abstract:

This empirical aims to analyze the impacts of real income and biomass energy consumption on the level of emissions in the EKC model for the panel of biomass-consuming countries over the period 1980-2011. Because we detect the presence of cross-sectional dependence and heterogeneity across countries for the analyzed data, we use panel estimation methods robust to cross-sectional dependence and heterogeneity. The CADF and the CIPS panel unit root tests indicate that carbon emissions, real income and biomass energy consumption are stationary at the first-differences. The LM bootstrap panel cointegration test shows that the analyzed variables are cointegrated. Results from the panel group-mean DOLS and the panel group-mean FMOLS estimators show that increase in biomass energy consumption decreases CO2 emissions and the EKC hypothesis is validated. Therefore, countries are advised to boost their production and increase the use of biomass energy for lower level of emissions.

Keywords: biomass energy, CO2 emissions, EKC model, heterogeneity, cross-sectional dependence

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Authors: Bruna C. Brasileiro, José Alberto S. Sá, Brigida R. P. Rocha

Abstract:

The Amazon region development was related to large-scale projects associated with economic cycles. Economic cycles were originated from policies implemented by successive governments that exploited the resources and have not yet been able to improve the local population's quality of life. These implanted development strategies were based on vertical planning centered on State that didn’t know and showed no interest in know the local needs and potentialities. The future of this region is a challenge that depends on a model of development based on human progress associated to intelligent, selective and environmentally safe exploitation of natural resources settled in renewable and no-polluting energy generation sources – a differential factor of attraction of new investments in a context of global energy and environmental crisis. In this process the planning and support of Brazilian State, local government, and selective international partnership are essential. Residual biomass utilization allows the sustainable development by the integration of production chain and energy generation process which could improve employment condition and income of riversides. Therefore, this research discourses how the use of local residual biomass (açaí lumps) could be an important instrument of sustainable development for isolated communities located at Alcobaça Sustainable Development Reserve (SDR), Tucuruí, Pará State, since in this region the energy source more accessible for who can pay are the fossil fuels that reaches about 54% of final energy consumption by the integration between the açaí productive chain and the use of renewable energy source besides it can promote less environmental impact and decrease the use of fossil fuels and carbon dioxide emissions.

Keywords: Amazon, biomass, renewable energy, sustainability

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